Request a Callback
Facebook
LinkedIn

Want to know more?

Leave your details below and we'll get in touch!

×

Single Touch Payroll (STP) – Phase 2

Single Touch Payroll will be expanded from 1st January 2022, with additional requirements.

 

Whilst the Australian Taxation Office are currently working with digital services providers to update their Single Touch Payroll enabled software, there will be additional information to submit.

Some of the key changes include:-

Disaggregation of Gross Income

Separately itemising items of gross income such as, allowances (separated by type), bonuses and commissions, directors’ fees, overtime pay, paid leave (and the type of paid leave), salary sacrifice,

Employment Status

Information such as employee cessation date and reason, employment basis such as casual, full time, part time etc and tax treatment (e.g. as claiming tax-free threshold, Medicare levy exemption and study loans, etc)

Income Type & Country Codes

Details of type of income (i.e. Salary and wages, working holiday, closely held payees, inbound assignees, etc).  Country codes may be required for payments to Australian residents working overseas or a working holiday maker, for example.

Lump sum payments

Lump sum E payments and Lump sum W (i.e. return to work) payments.

Child support garnishees and child support deductions

This will reduce reporting to child support registrar

 

 

AcctWeb

 

 

 

Want to know more?

Do you have a question about something you've read in this article? Need more information? Want to book an appointment? Simply let us know below and we'll get back to you ASAP.